Sun Communities (NYSE:SUI) Director Gary Shiffman Sells 156,875 Shares

by · The Markets Daily

Sun Communities, Inc. (NYSE:SUI – Get Free Report) Director Gary Shiffman sold 156,875 shares of Sun Communities stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total transaction of $19,378,768.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sun Communities Stock Performance

Sun Communities stock traded down $0.78 during midday trading on Thursday, hitting $123.36. 267,878 shares of the company were exchanged, compared to its average volume of 842,764. The business has a fifty day simple moving average of $125.17 and a two-hundred day simple moving average of $125.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01. The firm has a market capitalization of $15.26 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 4.27 and a beta of 0.92. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77.

Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating the consensus estimate of $2.18 by $0.10. The company had revenue of $697.20 million for the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a negative return on equity of 4.53% and a net margin of 42.58%.Sun Communities’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS and its FY 2025 guidance at 6.590-6.670 EPS. On average, sell-side analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Wednesday, December 31st will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, December 31st. Sun Communities’s payout ratio is 52.13%.

Institutional Investors Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Sun Communities during the second quarter valued at about $925,926,000. Wellington Management Group LLP raised its position in shares of Sun Communities by 1,224.1% during the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock worth $578,668,000 after purchasing an additional 4,147,015 shares during the period. Dodge & Cox raised its holdings in Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after buying an additional 4,041,802 shares during the period. Price T Rowe Associates Inc. MD grew its position in Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after purchasing an additional 568,514 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Sun Communities by 124.4% in the 3rd quarter. Millennium Management LLC now owns 685,324 shares of the real estate investment trust’s stock worth $88,407,000 after acquiring an additional 379,877 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SUI shares. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Morgan Stanley cut their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. Evercore ISI lifted their price objective on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Jefferies Financial Group set a $142.00 price target on shares of Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Wells Fargo & Company increased their price objective on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.42.

Read Our Latest Stock Analysis on SUI

Sun Communities Company Profile

(Get Free Report)

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.

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